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Solar Cells and Modules - Global Strategic Business Report

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    Report

  • 724 Pages
  • July 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 338398
The global market for Solar Cells and Modules is estimated at US$163.3 Billion in 2023 and is projected to reach US$279.3 Billion by 2030, growing at a CAGR of 6.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Key Insights:

  • Market Growth: Understand the significant growth trajectory of the Thin Film segment, which is expected to reach US$51.8 Billion by 2030 with a CAGR of 10.4%. The Crystalline Silicon segment is also set to grow at 5.4% CAGR over the next 8 years.
  • Regional Analysis: Gain insights into the U.S. market, estimated at $17.7 Billion in 2023, and China, forecasted to grow at an impressive 8.2% CAGR to reach $116.5 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

  • Detailed Market Analysis: Access a thorough analysis of the Global Solar Cells and Modules Market, covering all major geographic regions and market segments.
  • Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
  • Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Solar Cells and Modules Market.
  • Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

  • How is the Global Solar Cells and Modules Market expected to evolve by 2030?
  • What are the main drivers and restraints affecting the market?
  • Which market segments will grow the most over the forecast period?
  • How will market shares for different regions and segments change by 2030?
  • Who are the leading players in the market, and what are their prospects?

Report Features:

  • Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
  • In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
  • Company Profiles: Coverage of major players such as Bharat Heavy Electricals Ltd., BYD Co., Ltd., Canadian Solar, Inc., and more.
  • Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 228 Featured):

  • Bharat Heavy Electricals Ltd.
  • BYD Co., Ltd.
  • Canadian Solar, Inc.
  • Ascent Solar Technologies, Inc.
  • CESI SpA
  • AVANCIS GmbH
  • Atecom Technology Co., Ltd.
  • Chint Group
  • AZUR Space Solar Power GmbH
  • BiPVco
  • BSQ Solar SL
  • Daqo Group Co., Ltd.
  • AmberWave Inc
  • DASOL
  • Choshu Industry Company Limited

MarketGlass Platform

Our reports are enhanced by the MarketGlass platform, which brings together industry experts and influencers to provide high-quality, accurate insights. This unique platform allows us to gather comprehensive data and market perspectives, ensuring you receive the most reliable and detailed analysis available.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Solar Cells and Modules: An Introduction
  • Elements of Solar Cells
  • Types of Solar Cells and Modules
  • Cell and Module Efficiency of Commercial PV Technologies: A Comparison
  • Crystalline Silicon Vs Thin Film Technologies
  • Comparison Chart of Solar Cell Efficiencies for Crystalline Silicon and Thin Films with respect to Temperature
  • Global Market Prospects & Outlook
  • Crystalline Silicon Cells Lead Market
  • China and Asia-Pacific Spearhead Growth
  • Solar Cells and Modules: Production Scenario
  • Solar Cells Production Breakdown (in %) by Country
  • Solar Modules Production Breakdown (in %) by Country
  • Competition
  • Solar Cells and Modules - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
  • World Brands
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • As Solar Power Becomes Indispensable to Energy Mix, Solar Power Capacity Growth to Fuel Demand for Solar Cells and Modules
  • Strong Growth in Solar PV Market to Present Opportunities for Cells and Modules
  • Sustained Rise in Global Electricity Demand Creates Conducive Environment for Solar Power Generation, Driving Wider Demand for Solar Cells & Modules
  • Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
  • Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
  • Global Energy Consumption (in Billion toe) by Country/Region (1995, 2017 and 2040)
  • Estimated Global Power Generation Infrastructure Requirement (in US$ Billion) for China, India, Latin America, and North America over the Period 2010-2030
  • Favorable Government Regulations and Policies: Critical for Market Penetration
  • Domestic Targets for Greenhouse Gas Emissions of Select Regions/Countries
  • Growing Deployment of Renewable Energy Sources Amidst Rising Concerns over Fossil Fuel Usage Bodes Well for the Market
  • Global CO2 Emissions: Percentage Breakdown of Volume Emissions by Fuel Type (2015, 2020, 2040 & 2050)
  • Leading Countries with Renewable Energy as % of Total Energy
  • Targets for Electricity Production from Renewable Energy Sources in Select Countries
  • Market to Benefit from the Shift Towards Decentralized Power Generation & Rural Electrification in Emerging Nations
  • Solar Photovoltaic Technology Leading the Growth Run
  • Global Distributed PV Capacity Growth (in GW) by End-Use for the Period 2007-12, 2012-18 and 2019-24
  • Long-term Penetration of Distributed Generation to Impact Utilities
  • Microgrids and Distributed Generation Transform Electricity Management Forever
  • Government Boost to Solar Energy Adoption to Spur Opportunities in Solar Cells & Modules Market
  • Thin Film Photovoltaic Cells Technology: Poised for Strong Long-term Growth
  • A Peek into Applications of Photovoltaic Thin Films
  • CdTe and CIGS Thin Film PV Cells to Foster Market Growth
  • CIGS: An Emerging Thin Film Technology Gaining Immense Popularity
  • Miniaturization Trend in Electronics Favors Growth in Thin Films Market
  • Flexible Thin Film Cells Gain Attention
  • BIPV: The New Age ‘Building Envelope Material’ and ‘Power Generator’ to Boost Market Prospects
  • Global Building Integrated Photovoltaics (BIPV) Market by Region (in US$ Million) for the Years 2020 and 2027
  • Roofing Remains the Largest Application Segment for BIPV Market
  • Floating Solar Panels Technology: Highly Efficient than Land Based Solar Plants
  • World Floating Solar Panels Market by Type: Percentage Breakdown of Demand for Stationary, and Tracking for 2021 & 2027
  • Asian Countries Suited for Floating Solar Panels
  • Perovskite Solar Technology Holds Potential to Transform Future of Solar PV
  • n-Type Modules and TOPCon Set to Gain Momentum
  • CaTiO3 Solar Cells: A Panacea for Urban Solar Projects?
  • Innovations in Solar Cell Technologies to Transform Market
  • Technology Developments Support Growth of Solar Power Market
  • Select Innovations in Solar Cells and Modules Market
  • Research Developments in Solar Technology Drive Growth
  • Solar Panel Efficiency: An Important Parameter
  • Solar Panel Recycling Market Poised for Growth
  • Long-term Prospects Remain Favorable Amid Growing Population & Urbanization Drive
  • World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
  • Solar Industry Challenges: Implications for Solar Cells and Modules Market
  • Environmental Challenges of Solar Power, Cells and Modules
  • Solar Market Supply Chain Issues
  • Local Manufacturing of Solar Modules to Save Costs
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Solar Cells and Modules by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 2: World Historic Review for Solar Cells and Modules by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2022 and % CAGR
  • Table 3: World 13-Year Perspective for Solar Cells and Modules by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2017, 2024 & 2030
  • Table 4: World Recent Past, Current & Future Analysis for Thin Film by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 5: World Historic Review for Thin Film by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2022 and % CAGR
  • Table 6: World 13-Year Perspective for Thin Film by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2017, 2024 & 2030
  • Table 7: World Recent Past, Current & Future Analysis for Crystalline Silicon by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 8: World Historic Review for Crystalline Silicon by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2022 and % CAGR
  • Table 9: World 13-Year Perspective for Crystalline Silicon by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2017, 2024 & 2030
  • Table 10: World Recent Past, Current & Future Analysis for Other Technologies by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 11: World Historic Review for Other Technologies by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2022 and % CAGR
  • Table 12: World 13-Year Perspective for Other Technologies by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2017, 2024 & 2030
  • Table 13: World Recent Past, Current & Future Analysis for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 14: World Historic Review for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2022 and % CAGR
  • Table 15: World 13-Year Perspective for Industrial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2017, 2024 & 2030
  • Table 16: World Recent Past, Current & Future Analysis for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 17: World Historic Review for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2022 and % CAGR
  • Table 18: World 13-Year Perspective for Residential by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2017, 2024 & 2030
  • Table 19: World Recent Past, Current & Future Analysis for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 20: World Historic Review for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2022 and % CAGR
  • Table 21: World 13-Year Perspective for Commercial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2017, 2024 & 2030
  • Table 22: World Solar Cells and Modules Market Analysis of Annual Sales in US$ Million for Years 2017 through 2030
III. MARKET ANALYSIS
UNITED STATES
  • Market Facts & Figures
  • US Solar Cells and Modules Market Share (in %) by Company: 2020 & 2027
  • Thin Film (Technology) Market Share Analysis (in %) of Leading Players in the US for 2020 & 2027
  • Crystalline Silicon (Technology) Competitor Revenue Share (in %) in the US: 2020 & 2027
  • Solar Cells and Modules Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
  • The United States: Major Market for Solar Cells and Modules
  • Residential Segment Characterized by Continued Diversification
  • Utility Investments on Solar PV Continue to Soar
  • Corporate Procurement and Community Solar Model Amplify Non-Residential Solar Vertical
  • Price Volatility Impacts Market
  • Crystalline Silicon and Thin Film Technologies Vie for the Market
  • Commercial Availability of Aesthetically-Pleasing Solutions to Spur Long-term Growth for BiPV in the US
  • Green Constructions and LEED Certification to Favor Growth
  • US Extends Tariff on CSPV Cells Imports
  • Challenges Confronting the Industry
  • Supply Chain Issues Continue to Plague the Solar Cells & Modules Market in the US
  • Market Analytics
CANADA
  • Market Overview
JAPAN
  • Solar Cells and Modules Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
  • Market Overview
CHINA
  • Solar Cells and Modules Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
  • China: Most Vibrant Market for Solar Cells and Modules
  • China’s Solar PV Net Capacity Addition (in GW) for the Years 2015-2025
  • China Reports Investments in Additional Solar Cell Capacity amid Escalating Cell Prices
  • BIPV: Focus on Building Energy Conservation to Drive Market Growth
  • Competitive Scenario
  • Vendors Emphasize Expansion Strategies
EUROPE
  • Market Facts & Figures
  • European Solar Cells and Modules Market: Competitor Market Share Scenario (in %) for 2020 & 2027
  • Thin Film (Technology) Market Share (in %) by Company in Europe: 2020 & 2027
  • Crystalline Silicon (Technology) Market Share (in %) of Major Players in Europe: 2020 & 2027
  • Solar Cells and Modules Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
  • Market Overview
  • Cumulative Installed Solar PV Capacity (in GW) in EU for Years 2010, 2015, 2020, 2025 and 2030
  • Need to Reduce Energy Consumption Drives Demand for BIPV Products
  • BiPV Drives EU Energy Market towards Renewable and Decentralized System
  • BIPV Product Pricing Impacts Technology Adoption
  • Price Comparison of BIPV Roofing Solutions, Traditional Roofing Materials and In-Roof Mounting System in Europe
  • European Companies Seek Newer PV Materials
  • Favorable Policy Framework to Stimulate Adoption of PV Systems, Driving Demand for Solar Cells and Modules
  • Market Analytics
FRANCEGERMANYITALYUNITED KINGDOMSPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Solar Cells and Modules Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
  • Asia-Pacific Leads Solar PV Installations
  • Focus on Renewable Energy Mix and Favorable Government Policies Bodes Well for Market Growth
AUSTRALIA
INDIA
  • An Insight into the Indian Solar PV Modules Market
  • Solar Manufacturing Lags Behind
  • Heavy Reliance on Chinese Solar Cells & Modules: Wakeup Call for India amid Likely Trade Restrictions
  • Batting for Self-Reliance
  • Pandemic Casts Shadow on Implementation of New and Ongoing Solar Projects in India
  • India Eyes Self-Reliance in Solar Wafer & Ingot Manufacturing
SOUTH KOREAREST OF ASIA-PACIFICLATIN AMERICAARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Solar Cells and Modules Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E)
AFRICAIV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Bharat Heavy Electricals Ltd.
  • BYD Co., Ltd.
  • Canadian Solar, Inc.
  • Ascent Solar Technologies, Inc.
  • CESI SpA
  • AVANCIS GmbH
  • Atecom Technology Co., Ltd.
  • Chint Group
  • AZUR Space Solar Power GmbH
  • BiPVco
  • BSQ Solar SL
  • Daqo Group Co., Ltd.
  • AmberWave Inc
  • DASOL
  • Choshu Industry Company Limited

Table Information